Grant Request by Satchel

Submission Date
February 6, 2022

Project Links


Project Description

Satchel is a decentralized application that uplifts underbanked school communities by facilitating locally-governed projects and capital growth via DeFi-powered donations and financial primitives. Our V1 leverages Aave as its yield-bearing protocol. Satchel began as a collaboration (Generating Income to Benefit Communities) between Blockchain at Berkeley and UNICEF. Satchel’s core features include savings accounts and loans for underbanked school communities via key DeFi protocols, splitting yield between individuals and schools for individual and local socioeconomic mobility, community governance over Satchel-wide decisions and locally-funded school projects, and tax-deductible contributions to school communities in need around the world.

$SATCH is a token allocated to stakeholders of the Satchel network. On the local level, community members can use $SATCH to vote on school projects in their community. For instance, community members can now have a say in whether school funds generated by Satchel are directed towards school textbooks or healthy lunch options. In this way, residents inch towards self-governance — carving the direction of their communities and reclaiming power from largescale institutions that have long been making these decisions for them. On the global level, all stakeholders can use $SATCH to vote on Satchel-wide decisions (such as whether Satchel should expand to schools within a new developing economy or which yield-bearing DeFi protocol to integrate) and parameters (such as the initial allocation amount of $SATCH). In this way, Satchel’s users help curate its future, defining core facets of their financial infrastructure.

Financial resources and governance paired together allow Satchel to leverage schools as a proxy for rerouting financial and governmental jurisdiction to communities on the individual, local, and global levels.

Amount requested
50,000 USD


MILESTONE 1: Capital Flow Functionality

The smart contract architecture encompasses the capital flow between school organizations, schools, and users. Features include taking out loans as well as depositing and withdrawing functionality which interfaces with the Aave API. This milestone also includes a full UI revamp to make Satchel as user-friendly, accessible, and exciting as possible.

Amount: $20,000

Delivery Forecast: 03/15/2022


Tokenomics are close to finalized, and the next step is creating the $SATCH token. $SATCH recipients are encouraged to stake it within a staking contract with a predetermined un-staking period, of which there are several options the user can select from.

Amount: $20,000

Delivery Forecast: 04/01/2022

MILESTONE 3: Community Rewards Pool

A portion of incoming donations are directed towards a protocol-owned liquidity pool. Underlying assets and accrued yield are in donated assets, not $SATCH. The pool contract leverages yield-bearing mechanisms to accrue interest.

Amount: $10,000

Delivery Forecast: 04/15/2022